Estate Account-- Closure

Posted By: Anonymous

Estate Account-- Closure - 01/15/21 10:09 PM

We are in the process of closing out the estate account due to misuse of the account by the personal representative.

I think we should just cut a check to the estate and send a letter, directing the estate to take the account elsewhere.

My fear is that the fiduciary will want the check made payable to herself. I don't think we need to comply with such a demand, but I am unsure.

We don't know if the fiduciary is the sole beneficiary of the estate as it is not our policy to review wills to determine the beneficiaries.
Posted By: rlcarey

Re: Estate Account-- Closure - 01/15/21 10:16 PM

My fear is that the fiduciary will want the check made payable to herself.

Who cares what she "wants". Cut the check to the estate and close the account.
Posted By: RockChucker, CAMS

Re: Estate Account-- Closure - 01/15/21 11:57 PM

Amen to what Randy said.